Asset Management

Innovative Asset Management Tools Increase Plant Reliability, Throughput and Availability

Page: 5/5

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From Raw Data to Increased Profits

Having a huge amount of data at your fingertips is not a recent phenomenon; what is new is the ability to call on real-time asset information from multiple sources to create a holistic view of the plant. With this information, key decision-makers can start to address issues — both those that are immediate and those likely to occur in the future — with a high degree of certainty.

The result is fact-based decisions that improve the bottom line. The figure on the left shows maintenance costs for a typical refinery over a six-month period and the cost improvement made by moving to an optimized maintenance strategy.

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Many organizations competing in a global marketplace struggle to change how they view their assets and, in particular, plant performance. With the introduction of enterprise-wide asset management solutions, the opportunity to change is in the grasp of most progressive organizations. Those businesses willing to embrace the connectivity of their critical production assets will realize a return on their investments in a relatively short time, remain competitive, and maintain a stable and predictable operating environment.

* The author is Asset Performance Management Group Head at Emerson Process Management.

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